https://www.taxtmi.com/highlights?id=91802 The ITAT allowed the assessee's short-term capital loss on redemption of mutual fund units and dismissed the Revenue's appeals, thereby upholding the deletion of the assessment-level addition. The Tribunal applied its earlier ratio and SC authority to hold that, absent direct evidence of sham or SEBI censure and given the scheme's commercial features and a consistent investment pattern, a decline in NAV following dividend declaration is a market phenomenon and does not justify disallowance. Mere suspicion, generalized allegations, or reliance on survey-stage statements cannot negate genuine transactions. Consequentially the assessee is entitled to claim the short-term capital loss for tax purposes. en-us Fri, 22 Aug 2025 08:33:07 +0530 Fri, 22 Aug 2025 08:33:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=91802 The ITAT allowed the assessee's short-term capital loss on redemption of mutual fund units and dismissed the Revenue's appeals, thereby upholding the deletion of the assessment-level addition. The Tribunal applied its earlier ratio and SC authority to hold that, absent direct evidence of sham or SEBI censure and given the scheme's commercial features and a consistent investment pattern, a decline in NAV following dividend declaration is a market phenomenon and does not justify disallowance. Mere suspicion, generalized allegations, or reliance on survey-stage statements cannot negate genuine transactions. Consequentially the assessee is entitled to claim the short-term capital loss for tax purposes. Highlights Income Tax Fri, 22 Aug 2025 08:33:07 +0530 https://www.taxtmi.com/highlights?id=91802